Starting Your Self-Employed Journey
Moving from being employed to self-employed can feel overwhelming, but you don’t have to do it alone. At Tax Fairies, we’re here to guide you through every step of the process.
Once you start working for yourself and expect to earn more than £1,000 before tax relief, you’ll need to inform HM Revenue & Customs (HMRC) that you’ll now pay your taxes and National Insurance through Self-Assessment. This means registering as self-employed and filing a tax return every year.
It’s important to register as self-employed with HMRC as soon as possible after you start trading—and no later than 5th October in your second year of trading.
Don’t worry if this sounds daunting—we can help you complete the registration process and ensure everything is set up correctly from the start.
How to Register as Self-Employed
To register as self-employed, you’ll need a personal tax Government Gateway ID and password to sign in and ‘enrol for services.’ If it’s your first time using HMRC’s online services, don’t worry—you can create a user ID during the process. We can handle all of this for you.
Once registered, HMRC will send your Unique Taxpayer Reference (UTR) by post within 10 working days. If you’re signed up for HMRC’s online account or app, you may be able to access it even sooner.
After registration, HMRC will notify you when it’s time to complete your Self-Assessment tax return, which must be submitted by the annual deadline.
Need help with registering your business?
Get in touch with us today or click the button below to let us take care of it for you.
If you are looking for advice and support to register your business, it is simple. Just call or email us, we find out more about you and then we will produce a quote - it's that easy!
Call or email us to find out more about registering your business.
Speak with an accountant and learn how BYNC can help with registering your business.
From learning more about you we will put together a quote based on your needs.